Aecon Group (TSE:ARE) Stock Crosses Above Two Hundred Day Moving Average of $13.11

Aecon Group Inc. (TSE:ARE)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$13.11 and traded as high as C$17.08. Aecon Group shares last traded at C$16.91, with a volume of 154,548 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARE. Desjardins boosted their price objective on shares of Aecon Group from C$16.00 to C$20.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. BMO Capital Markets upped their target price on shares of Aecon Group from C$14.50 to C$17.50 and gave the company an “outperform” rating in a report on Thursday, March 7th. Canaccord Genuity Group upped their target price on shares of Aecon Group from C$14.00 to C$26.00 and gave the company a “buy” rating in a report on Thursday, March 7th. CIBC upped their target price on shares of Aecon Group from C$18.00 to C$21.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Finally, ATB Capital upped their target price on shares of Aecon Group from C$15.25 to C$19.50 and gave the company an “outperform” rating in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$18.09.

Aecon Group Price Performance

The stock has a market capitalization of C$1.07 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 18.18 and a beta of 1.16. The company has a current ratio of 1.42, a quick ratio of 1.27 and a debt-to-equity ratio of 39.29. The stock has a 50-day simple moving average of C$15.59 and a 200 day simple moving average of C$13.14.

Aecon Group (TSE:ARE) last issued its quarterly earnings data on Tuesday, March 5th. The company reported C$0.15 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.02). The company had revenue of C$1.13 billion during the quarter, compared to the consensus estimate of C$1.22 billion. Aecon Group had a net margin of 3.49% and a return on equity of 16.04%. On average, equities research analysts forecast that Aecon Group Inc. will post 0.7603047 EPS for the current fiscal year.

Aecon Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Friday, March 22nd were given a dividend of $0.19 per share. The ex-dividend date was Thursday, March 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.42%. This is an increase from Aecon Group’s previous quarterly dividend of $0.19. Aecon Group’s payout ratio is presently 36.19%.

Insider Transactions at Aecon Group

In related news, Senior Officer Adam Robert Borgatti acquired 4,231 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of C$13.07 per share, for a total transaction of C$55,299.17. In other Aecon Group news, Senior Officer Adam Robert Borgatti purchased 4,231 shares of the stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of C$13.07 per share, for a total transaction of C$55,299.17. Also, Director Stuart Lee purchased 7,000 shares of the stock in a transaction on Friday, March 22nd. The stock was acquired at an average price of C$16.33 per share, with a total value of C$114,310.00. 1.72% of the stock is currently owned by corporate insiders.

About Aecon Group

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.